The Board of Directors of the Saudi Football Association has approved the start of the founding committee of the Financial Fair Play Law coinciding with the financial year of sports clubs and the publication of financial statements corresponding to June 30, 2022.
The Committee began its work after holding a series of meetings and seminars to determine the working mechanism, regulations and implementation modalities of the project.
The Board of Directors of the Saudi Federation approved at its meeting on November 28, 2021, the creation of a founding committee of the financial fair game law by working with the committee on financial efficiency of the Ministry of Finance. Sports.
The Committee has set a timetable for the gradual implementation of the plans and objectives over the next 3 years in order to give clubs the necessary time to adapt to the new phase, which will start with the review and analysis of club financial statements published in June. 30 and extraction of financial indicators relating to:
1- Establish an acceptable percentage of deficit that cannot be exceeded, provided that this percentage is gradually reduced on an annual basis, and will be determined later after review and analysis of the financial statements of the clubs.
2- Determination of the percentage of salaries and expenses related to football activities, so that it does not exceed a certain percentage of the club’s income, provided that it is determined later after study and analysis of the financial statements of the clubs.
The committee plans to meet the clubs in the coming period to explain the project in detail.
In particular, the founding committee includes the Chairman of the Finance Committee, the Chairman of the Players’ Professionalism and Status Committee, the Director of the Legal Department of the Saudi Football Association, representatives of the Saudi Professional League, the financial performance and club support. Strategic Committee under the supervision of the Ministry of Sports, and an external financial auditor.